The exclusive partnership is a significant milestone for the EV industry, as it marks the first time of an association for EV battery insurance in the country to include provisions for reusing and recycling of the batteries
Bengaluru:
Lohum, India’s largest producer of sustainable energy transition materials, and ACKO, the tech-first insurer, join hands to recycle and reuse batteries that will lead to faster adoption of Electric Vehicles in India.
The exclusive partnership is a significant milestone for the EV industry, as it marks the first time of an association for EV battery insurance in the country to include provisions for reusing and recycling of the batteries.
In addition, the collaboration will benefit EV battery OEMs that have their products underwritten by ACKO. This will provide easy access to Indian EV customers, battery OEMs, dealerships, and all ecosystem stakeholders to advanced aftermarket services.
The partnership will help optimize the battery insurance and financing costs for the customers. This will make the purchase of electric vehicles more affordable and reduce the insurance cost. It will hence pave the way for us to partner with OEMs in the future to launch battery buy-back products for customers and improve the overall vehicle resale value.